Do you include precious metals in your preps?

[O.S.O.K.]

I do. I just think its wise to have some amount of funds saved in some kind of form that will retain value.

For me, it's silver (us silver eagles) and my goal is to have around $10K worth of silver - this is intended as "emergency" funds.

If we are all proven to be over-concerned and paranoid about the coming economic situation and things turn out just fine - no depression, etc. - pm's will remain valuable and something that can be easily changed for currency. So, I don't see the downside to this.

PM's could of course lose value, but so can and will all of the stock in your mutal funds, or the possibly the house you own, etc.

So what about the others here that are engaging in "common sense" preparations are including pm's? And if you're not, why not?

[cciota]

I bought some pre-1933 gold coins last year as an investment rather than an emergency fund. Worst case, my kids get them when I die. I figure that if it gets that bad that money is no good, other things will be more valuable precious metals.

[Broondog]

i have lots of lead, brass and copper. a little nickle too. :biggrina:

[O.S.O.K.]

I bought some pre-1933 gold coins last year as an investment rather than an emergency fund. Worst case, my kids get them when I die. I figure that if it gets that bad that money is no good, other things will be more valuable precious metals.

OK, so you have an investment, not an emergency fund. What's the difference?

[Charliebravo]

A few Krugerrands, some generic 1 oz. Silver rounds, and 2 bags of pre-65 90% silver coinage. The bags were $500/each when I bought them, but have gone up a little. Not a major investment, but, what the hell, they don't eat much just sitting in the safe.

[O.S.O.K.]

Yeah, again, I certainly don't see this as "the answer" to shtf but I do think it has a place in planning.

I would definately secure several other things before worrying about this, but once that is done, some "always liquid" funds are just smart.

[ubersoldate]

Nope.
Other than a very small amount, I have a family, so I will want to be far away from other people, not in town horse trading.

I feel the P-metal debacle is nothing but another way for people to feel as if they are prepared.
I mean, its too heavy to carry in any serious weight or monetary amount, so you are basically like the german in kellys heroes.
You are stuck defending it against people who will want to take it.
Its great for commercials in between news casts, but in reality, its heavy, and puts you in contact with people you most likely should have prepared enough to NOT be in contact with.
They will tell you its the only way to remain stable in a unstable future, but I think the core of that is, I still do not believe that it will get to that point.

I would think my precious metals would be lead, encased in brass, and even that would take up rather small amounts of my all in all survival stocks compared to food, and medicine.

No disrespect to those who bank in it, but Id rather not be anymore of a target than I already will be.

[O.S.O.K.]

Uber, I totally understand what you are saying. I don't plan on 'bugging out' per se but do have preps if that were to become the necessity. As stated, I do not suggest/recommend, etc. that anybody purchase gold or silver if they haven't gotten their other preps in place first. Can't eat silver. Can't protect yourself with it.

And I also understand and agree that the purveyors of pm's are taking advantage of the situation...

Godspeed to you and your family if things go that far south - and that's your plan.

[El Jefe]

I have pre 65 silver coinage, but no gold or other bullion. I'm not convinced that any of it will be worth much if TS truly HTF. Rural land, water, food and ammo are more my style. I hope to have a cabin location bought within 6 months, hopefully sooner.

[HDR]

I'm not convinced that any of it will be worth much if TS truly HTF.


What value will it have as compared to food, shelter, medicine, guns or ammunition?

Gold and silver are the baubles of civilized man..

[El Jefe]

What value will it have as compared to food, shelter, medicine, guns or ammunition?

Gold and silver are the baubles of civilized man..

That's it, if things get bad enough where conventional money is worthless then I think we're down to a barter economy. I can't imagine trading food and ammo for gold under those circumstances because you can't eat it and there's no guarantee the next guy will see it as valuable.

[recon]

Ammo is my metal! It will be gold if the SHTF comes.

[O.S.O.K.]

Its being stated, correctly I think that PM's are not something for a far-gone situaiton. I totally agree with that. Again, get everything else in order and then worry about money...

But the thing is, I don't expect things to go that far south - I think a depression is very likely though and in that situation, PM's will retain their value while currency will inflate - probably at an alarming rate. PM's are one of the things that have been shown to retain value in such conditions.

So, I guess it all depends on what "stage" of preparation you are in, and what expectations you have - what it is you are really preping for...

People have different ideas of what they'll do under given circumstances.

[cciota]

OK, so you have an investment, not an emergency fund. What's the difference?



Frame of mind.

[insider]

How about a nice balanced portfolio-10oz gold, 1000oz silver, 10000 rounds ammo, a years supply of food, solar panels, diesel generator, several good rifles, several good handguns, good set of wheels, a good place to live, a good dog, a good family, and a group of like-minded people.

[Charliebravo]

What value will it have as compared to food, shelter, medicine, guns or ammunition?

Gold and silver are the baubles of civilized man..Gold and silver have little in the way of inherent value. What makes them valuable is the relatively fixed nature of the supply. Sure, we can mine more, but that's slow process, so you don't see inflation in metals. It's not like we can fire up a printing press and double the world's amount of silver or gold in a few months. Being of a fixed supply, metals have a "representative" value. The market would eventually figure out what they're worth. I wouldn't consider keeping all of my eggs in the metals basket, but I want to have some. I'm only sitting on $5-$6K worth, so it's not like I liquidated and got solely into metals. The only thing I'm really lacking is rural land, but that's next on the agenda after knocking out the mortgage....which is 2 years away. I've really got more guns and ammo than I could ever use, even in a war. If the SHTF, I'd be willing to trade some of them for items that I am lacking, or silver or gold. Cash would be virtually worthless. If somebody was really in a pinch and needed a box of, say, 9mm, I'd trade it for food, socks, sleeping bag, whatever. If they didn't have anything I needed, and weren't a scumbag, I'd take a 1 oz. silver piece for it.

[HDR]

Gold and silver have little in the way of inherent value. What makes them valuable is the relatively fixed nature of the supply. Sure, we can mine more, but that's slow process, so you don't see inflation in metals. It's not like we can fire up a printing press and double the world's amount of silver or gold in a few months. Being of a fixed supply, metals have a "representative" value. The market would eventually figure out what they're worth. I wouldn't consider keeping all of my eggs in the metals basket, but I want to have some. I'm only sitting on $5-$6K worth, so it's not like I liquidated and got solely into metals. The only thing I'm really lacking is rural land, but that's next on the agenda after knocking out the mortgage....which is 2 years away. I've really got more guns and ammo than I could ever use, even in a war. If the SHTF, I'd be willing to trade some of them for items that I am lacking, or silver or gold. Cash would be virtually worthless. If somebody was really in a pinch and needed a box of, say, 9mm, I'd trade it for food, socks, sleeping bag, whatever. If they didn't have anything I needed, and weren't a scumbag, I'd take a 1 oz. silver piece for it.

Gold etc is worth something to me now; precious metals would work well during a Katrina event or LA riot. IMO, their value would depend on how long shtf would last.

[sisyphus]

Gold etc is worth something to me now; precious metals would work well during a Katrina event or LA riot. IMO, their value would depend on how long shtf would last.

My house and other structures are full-up with food, water, clothing and other necessities. We have a "modest" amount of PM's in "junk" U.S. silver coins along with one 1927 gold 2-1/2 dollar coin my wife found while camping a while back. I've been debating the purchase of more older "junk" silver coins lately, although I also believe there may come a time when no amount of PM's may purchase the necessaries of life if things get bad enough for long enough a time.

I understand that the most recent Balkans tragedy was an example of this. The rumor was that people got to the point where they wouldn't accept even gold in trade for food, etc.

My idea of PM's is to have some for a contingency where it's still an accepted medium of exchange. Most people don't know the value of legal tender silver coins, and gold will likely be as foreign to them as moon rocks.

[O.S.O.K.]

How about a nice balanced portfolio-10oz gold, 1000oz silver, 10000 rounds ammo, a years supply of food, solar panels, diesel generator, several good rifles, several good handguns, good set of wheels, a good place to live, a good dog, a good family, and a group of like-minded people.

I think that last bit - about like-minded (and shall we say trustworth?) people is a very very important component...

[hawk1911]

I think that last bit - about like-minded (and shall we say trustworth?) people is a very very important component...

This is the one that Im currently trying to network up right now. I need to find a solid group real close to home.

[HDR]

I understand that the most recent Balkans tragedy was an example of this. The rumor was that people got to the point where they wouldn't accept even gold in trade for food, etc.

In the Balkans, they didn't know how long the chaos would last so they got to that point. At first, gold probably bought a lot; after the trouble lasted gold lost it's value.

[O.S.O.K.]

In the Balkans, they didn't know how long the chaos would last so they got to that point. At first, gold probably bought a lot; after the trouble lasted gold lost it's value.

This would be true of any non-essential item no?

The PM's are definately for the less than really far gone situation - like a deep depression with inflation - not total collapse or arnarchy/revolution.

That's bullets and beans territory for sure.

[American Rage]

Been thinkin' about adding silver. However, I'm not so sure that there aren't other necessary minerals that might not be a better deal. For instance: any mineral or element needed to produce batteries and computers. Basically, invest in things needed for the global market, regardless of who's in control or how the economy is doing.


Rage

[O.S.O.K.]

Silver, or gold to me is just a small portion of your preps - for emergency if your investments become worthless ions floating around in a dead cyberspace or worthless scraps of paper.

There's talk now of even things like bonds and T-bills becoming worthless under the wrong circumstances which could develop.... because of the way local and the fed govt. is managing them.

[NewbieAKguy]

I've been re-evaluating my/our financial savings/"safety nets" and even though gold is pretty much out of my price range, silver is beginning sound like a decent hedge. Heck, maybe even palladium coins (which I had no idea they even made) 63DH8's daughter was talking about. Problem is I have no experience in knowing difference between "junk" silver coins and good (?) silver coins. Could you help a fella out? Where to go and what to look for? Pawn shops, banks or, other place to get them?

I'm not looking for it to save me in SHTF situation long-term (still buy ammo, food, etc.as much as possible), but more as a hedge against inflation and whatnot. Or am I just getting chicken little syndrome? Same things said here were in swampy's '$500 investment' thread and figured I'd get advice from those already there......tried googling but it gets overwhelming fast.

The rise in the stock market since the elections is a welcome change, but like we know, what good is it if the dollar is losing 20% of it's value with all this new BS printing going on?

[Mark Ducati]

I started buying silver a couple years ago when my son turned 4.... he's going to start losing teeth between 6-7 so I bought 20 Silver Eagles of his birth year so that the tooth fairy can leave a real silver coin for each tooth he loses. Also did the same for my 3 year old daughter.

From there, I saw that US Silver Eagle currency seemed to carry a $3-4 dollar premium over the actual MV of silver, so since the original 40 coins, I've been buying a few privately minted silver rounds/ingots as they're a little cheaper.

Some have suggested that these can be forged/silver plated... so I've also kept the original website confirmation order printed as well as the receipt that comes with them hoping to verify them at the time of sale/barter.

Silver seems to be more affordable to buy a few at a time AND because of their lesser value compared to gold, I'm thinking easier to barter with... how about a Silver Eagle for a pack of smokes, pack of condoms, or a few coins for a bottle of booze?

Easier to split silver up than gold... the only thing I could see highly valuable gold coins for would be for perhaps a bribe to cross a border or maybe a half dozen gold coins to buy a four-wheeler ATV or used truck in a SHTF?

IF/WHEN the S truly HTF, I can't see having $20K in gold or more helping... if its really that bad, everybody is going to be going ape-$hit and won't take your coinage... as said above, food and ammo will be the coin of the realm.

[Dr. Gonzo GED]

Only lead and steel baby. Only lead and steel.

[NewbieAKguy]

I started buying silver a couple years ago when my son turned 4.... he's going to start losing teeth between 6-7 so I bought 20 Silver Eagles of his birth year so that the tooth fairy can leave a real silver coin for each tooth he loses. Also did the same for my 3 year old daughter.

From there, I saw that US Silver Eagle currency seemed to carry a $3-4 dollar premium over the actual MV of silver, so since the original 40 coins, I've been buying a few privately minted silver rounds/ingots as they're a little cheaper.

Some have suggested that these can be forged/silver plated... so I've also kept the original website confirmation order printed as well as the receipt that comes with them hoping to verify them at the time of sale/barter.

Silver seems to be more affordable to buy a few at a time AND because of their lesser value compared to gold, I'm thinking easier to barter with... how about a Silver Eagle for a pack of smokes, pack of condoms, or a few coins for a bottle of booze?

Easier to split silver up than gold... the only thing I could see highly valuable gold coins for would be for perhaps a bribe to cross a border or maybe a half dozen gold coins to buy a four-wheeler ATV or used truck in a SHTF?

IF/WHEN the S truly HTF, I can't see having $20K in gold or more helping... if its really that bad, everybody is going to be going ape-$hit and won't take your coinage... as said above, food and ammo will be the coin of the realm.

Ok, so where did you get them and where to get silver coins in general? Pawn shop? The silver coins they sell at your bank? If pawn shop or whatever, what do I look for so as not to get ripped off? And as the Dr. ordered, ALWAYS adding to my lead and steel stock...and brass :D.

[Charliebravo]

Problem is I have no experience in knowing difference between "junk" silver coins and good (?) silver coins. Could you help a fella out? Where to go and what to look for? Pawn shops, banks or, other place to get them?"Junk" silver is pre-1964 U.S. currency which has a 90% silver content. It is currently selling, at least a few days ago, for 18-19 times face value. While sorting change yesterday, I stumbled across a 1940 nickel and a 1964 nickel. Each is worth $.90 to .95 cents. An old silver dollar (pre-65) is going for $18-$19. I bought 2 bags at 10.3xface in March of 2009, so they're up about 70%. I also got 100 generic 1oz. rounds at $15/oz. Now they're knocking on the door of $28/oz.

Personally, I like having a little of both. We may reach a point that if someone needed a box of 9mm ball, I wouldn't take their inflated paper currency....unless I was short of toilet paper. I would, however, take a silver dollar.

It's up pretty high right now and the possibility exists that you could lose money, but I sleep better at night knowing that I've got the silver and gold in the safe. Plus, it's a good way to save. I'm not tempted to bust out a Krugerrand and head to Best Buy to trade it for a flat screen TV or iPad.

[NewbieAKguy]

"Junk" silver is pre-1964 U.S. currency which has a 90% silver content. It is currently selling, at least a few days ago, for 18-19 times face value. While sorting change yesterday, I stumbled across a 1940 nickel and a 1964 nickel. Each is worth $.90 to .95 cents. An old silver dollar (pre-65) is going for $18-$19. I bought 2 bags at 10.3xface in March of 2009, so they're up about 70%. I also got 100 generic 1oz. rounds at $15/oz. Now they're knocking on the door of $28/oz.

Personally, I like having a little of both. We may reach a point that if someone needed a box of 9mm ball, I wouldn't take their inflated paper currency....unless I was short of toilet paper. I would, however, take a silver dollar.

It's up pretty high right now and the possibility exists that you could lose money, but I sleep better at night knowing that I've got the silver and gold in the safe. Plus, it's a good way to save. I'm not tempted to bust out a Krugerrand and head to Best Buy to trade it for a flat screen TV or iPad.

Cool, thanks for the explanation on "junk" silver coins. Now where's the best place to go to get some, and yet not get screwed over? I have no prob paying fair market value, just don't want to get taken for a ride.

[MOP]

Kitco has a good reputation.

Their prices are based on the current value of the metal.